Eligibility file · Note

Figure YLDS (Figure Transferable Certificates)

What the client owns

Figure Transferable Certificate: an unsecured face-amount certificate of Figure Certificate Company, $0.01 face, paying SOFR less 35 basis points. One displayed YLDS on chain is 1,000,000 base units and trades near $1.00, which is 100 certificates.. Issuer indirect: The token points at a record kept off chain; the transfer agent’s file governs and the chain is a mirror.

Who may hold it

US retail investors. First purchase $0.01. State coverage not confirmed by the issuer. The prospectus sets no investor test and no minimum; ylds.com says the minimum is one certificate ($0.01) and that YLDS ”can be held globally, by eligible retail and institutional customers,” with eligibility that ”may vary by jurisdiction.” Every holder, including a peer-to-peer buyer, must pass KYC by Figure Payments Corporation, FCC’s affiliate, and hold a wallet FCC has cleared. No document read lists the US states where the certificates are sold.

Who can freeze or claw back

Stellar: can freeze a holder, claw back, gate who may hold, mint, change the code. A single key can freeze a holder and claw back tokens.

How it exits

Redeem with the issuer in its window. Surrender to FCC at any time at $0.01 face per certificate plus accrued interest, no surrender charge and no minimum; FCC processes it within 24 hours. Cash by wire or ACH (up to 5 days; the holder pays the ACH fee), to a Figure Payments stored-value account, or as an accepted stablecoin through Figure Payments (up to 10 days). On Stellar the holder sends YLDS to a redemption address unique to its account.. Settles in USD, USDC.

Research and shelf status are on the memo: Figure YLDS (Figure Transferable Certificates) Favorable research; shelf not set

Issuer

Figure Certificate Company (Delaware face-amount certificate company registered under the Investment Company Act; certificates registered on Form S-1, No. 333-275154; wholly owned by Figure Technology Solutions, Inc.)

Registration

Face-amount certificate, registered under the ’33 and ’40 Acts

Official record

Figure Equity Solutions, Inc. (Figure affiliate; SEC-registered transfer agent, file 084-06830), SEC-registered transfer agent

Instruments

YLDS

Chains

Provenance, Stellar

Reviewed

2026-09-23 · v1

Next review

2026-12-23

Who may buy, hold, transfer, and redeem

Each answer rests on the issuer’s own words, quoted from the document named under it. Ketju re-reads each document and records whether the words are still there. Where the documents say nothing, the row says so.

What the holder owns

An unsecured debt claim on Figure Certificate Company, backed only by its assets.

“Figure Certificates are interest-bearing debt securities. When you buy a Certificate, you are buying an obligation of FCC, which are unsecured and solely backed by its assets”

SEC EDGAR: Figure Certificate Company prospectus, Rule 497 (April 24, 2026) · Figure Certificate Company and the Figure Certificates, Figure Certificates (p. 10) · words found 2026-09-23

Who may hold it

Anyone who passes KYC by Figure Payments and whose wallet FCC clears; the prospectus sets no accreditation test.

“Each potential investor must pass AML/KYC review by the AML/KYC Service Provider before being approved by FCC to open an FCC account and before the potential investor being approved to receive any Figure Certificates.”

SEC EDGAR: Figure Certificate Company prospectus, Rule 497 (April 24, 2026) · Anti-Money Laundering/Know Your Customer (p. 22) · words found 2026-09-23

First purchase minimum

None; a single certificate is $0.01.

“There is no minimum initial purchase amount for the Figure Transferable Certificates, and there is no minimum on the amount a Certificate holder may hold.”

SEC EDGAR: Figure Certificate Company prospectus, Rule 497 (April 24, 2026) · The Figure Transferable Certificate (p. 10) · words found 2026-09-23

Account types

Individuals and entities: the account takes a Social Security Number, an ITIN, or an EIN.

“When you open an FCC account, you must provide your correct Taxpayer Identification Number (TIN), which is your Social Security Number, Individual Taxpayer Identification Number, or Employer Identification Number.”

SEC EDGAR: Figure Certificate Company prospectus, Rule 497 (April 24, 2026) · Purchasing Certificates (p. 24) · words found 2026-09-23

Who it may be transferred to

Peer to peer at any hour and at face, but only between wallets that have passed KYC and that FCC has cleared.

“Only those wallets that are established on an approved blockchain and that successfully complete the AML/KYC process through the AML/KYC Service Provider and are approved by FCC are approved to transfer Figure Transferable Certificates to other wallets”

SEC EDGAR: Figure Certificate Company prospectus, Rule 497 (April 24, 2026) · Peer-to-Peer and ATS Transactions (p. 25) · words found 2026-09-23

How a holder redeems

Surrender to FCC at any time; FCC processes it within 24 hours, and cash takes up to 5 days by wire or ACH.

“You may request a withdrawal by surrendering your Certificate at any time. Surrenders of Certificates will be processed within 24 hours, but surrenders may take longer depending on congestion on the relevant approved blockchain or other technological reasons.”

SEC EDGAR: FCC prospectus supplement on purchase and surrender (August 6, 2026) · Withdrawal (Surrender), as replaced by the August 6, 2026 supplement · words found 2026-09-23

Who keeps the official record

The transfer agent’s records, kept partly on chain and partly off, are the official record and override the chain.

“The Transfer Agent’s records constitute the official Certificate holder records of FCC and govern the record ownership of Figure Certificates in all circumstances.”

SEC EDGAR: Figure Certificate Company prospectus, Rule 497 (April 24, 2026) · Information About Correcting Erroneous Transactions on a Blockchain Network (p. 15) · words found 2026-09-23

What the issuer says it can freeze or take back

FCC and the transfer agent can block wallets and correct or reverse transfers on chain.

“FCC is able to issue new Certificates, and FCC and the Transfer Agent are able to block blockchain wallets if a transaction is made in error or if a private key has been lost or stolen, or if Certificates are transferred erroneously or impermissibly.”

SEC EDGAR: Figure Certificate Company prospectus, Rule 497 (April 24, 2026) · Information About Approved Wallets (p. 16) · words found 2026-09-23

Fact	What the file records
Who onboards the holder	issuer
Voting rights	None
Distributions	new tokens
SIPC coverage of the wallet	No

The transfer agent’s SEC record

A transfer agent registers with the SEC on Form TA-1 and reports each year on Form TA-2: how many securityholder accounts it keeps and for how many issues it keeps the master securityholder file, the list that says who owns each share.

Agent	SEC file	On EDGAR since	TA-2 period	Accounts	Issues with master file	Work it hires out
Figure Equity Solutions, Inc.	084-06830	2022-01-21	2025-12-31	1,856	1	None

Who can change the record

Powers read from the deployed contracts and their verified source: the token and every contract it consults on transfer. A power recorded here is the issuer’s ability, not evidence it has been used.

Chain	Freeze a holder	Pause	Claw back	Gate holders	Change the code	Keys held by
Stellar	Yes	No	Yes	Yes	Yes	A single key can freeze a holder and claw back tokens.

Who holds the keys

Every current holder of each power, read from the chain on 2026-09-23. A single key is one private key: whoever holds it acts alone. A multisig needs the stated number of signers. A timelock makes every action wait, so holders can see it coming.

Chain	Key	What it can do	Held by	Address
Stellar	Issuer account	mint new tokens, freeze a holder, claw back tokens, decide who may hold	a single key	GAC7MO…AVH3

Stellar: 4 contract reads at block 64577935, 0 functions in verified source, 2026-09-23

Read from the chain

auth_required=true
auth_revocable=true
auth_immutable=false
auth_clawback_enabled=true

Where it trades

Venue	Kind
ylds.com portal and the Figure Markets app (issue and surrender with FCC)	issuer primary

How it exits

Path	Settlement	Settles in
Redeem with the issuer in its window	Surrender to FCC at any time at $0.01 face per certificate plus accrued interest, no surrender charge and no minimum; FCC processes it within 24 hours. Cash by wire or ACH (up to 5 days; the holder pays the ACH fee), to a Figure Payments stored-value account, or as an accepted stablecoin through Figure Payments (up to 10 days). On Stellar the holder sends YLDS to a redemption address unique to its account.	USD, USDC

Reopen conditions: events that change an answer above

Ketju’s control reader gains Provenance marker support; the Provenance row is then read and added (on 2026-09-23 the marker admin was group 722 at a 51% threshold, and five single keys held mint, burn, and forced-transfer rights)
The uylds.fcc marker’s access grants, required attribute, or forced-transfer setting change on Provenance
The Stellar issuer adds signers, changes thresholds, or locks its authorization flags
FCC files a new prospectus, post-effective amendment, or supplement that changes who may hold, the minimum, the surrender terms, or the approved chains
A chain other than Provenance or Stellar goes live for YLDS; its contract is then read with the reader
Figure Equity Solutions files a TA-W or FCC names a different transfer agent
FCC publishes a US state list or bars a class of US or non-US holders
Figure corrects its statement that one YLDS is one certificate at $0.01, or on-chain supply stops matching the reserve at $1 per displayed unit
YLDS lists for trading on a registered ATS

What the monitor reads daily

Every control function in the table above and the contracts the token consults on transfer; the token’s on-chain supply against yesterday’s; and its market quote against its one-dollar value. Every document quoted above is re-read too, and a quote that leaves its document reopens the file. EDGAR is read for the transfer agent’s registration; a new filing reopens the file. A change opens a review item in the governance queue and reopens the file before any client action.

Sources

SEC EDGAR: Figure Certificate Company prospectus, Rule 497 (April 24, 2026) · primary · accessed 2026-09-23
Supports: unsecured debt of FCC, $0.01 face, no minimum, KYC before holding or receiving, transfers only between cleared wallets, transfer agent record governs, block wallets, cancel and reissue, TIN types, chain suitability framework requires clawback
SEC EDGAR: FCC prospectus supplement on approved blockchains (June 30, 2026) · primary · accessed 2026-09-23
Supports: Provenance primary; Solana, Stellar, Avalanche, Sui, Tempo on request
SEC EDGAR: FCC prospectus supplement on purchase and surrender (August 6, 2026) · primary · accessed 2026-09-23
Supports: surrender processed within 24 hours, wire and ACH up to 5 days, stablecoin surrender up to 10 days
SEC EDGAR: FCC Form 10-Q for the quarter ended June 30, 2026 · primary · accessed 2026-09-23
Supports: YLDS is the Transferable Certificate, $557.5M certificate reserve, affiliates held $477.5M
SEC EDGAR: Figure Equity Solutions, Inc. Form TA-1/A (September 3, 2025) · primary · accessed 2026-09-23
Supports: transfer agent file 084-06830
YLDS (ylds.com): product page and FAQ · primary · accessed 2026-09-23
Supports: minimum is a single certificate, held globally by eligible customers, eligibility may vary by jurisdiction, 1 YLDS = 1 Certificate = $0.01 NAV (site wording)
YLDS (ylds.com): Developers and Ecosystems · primary · accessed 2026-09-23
Supports: Provenance and Stellar live
FCC stellar.toml at ylds.com · primary · accessed 2026-09-23
Supports: Stellar issuer address, redemption address per account
Provenance REST: uylds.fcc marker detail · primary · accessed 2026-09-23
Supports: restricted marker, forced transfer allowed, required attribute approved.ylds.pb, group-policy admin and single-key minters
Stellar Horizon: YLDS asset records · primary · accessed 2026-09-23
Supports: issuer flags, Stellar supply, copycat issuers

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